- Tata steel continues to do well.
- The weekly inverted head and shoulders pattern can reach a possible target of 640 levels approximately. If price continues to stay above 5 Day Low EMA then Bulls will have a safe journey towards the pattern target. Weakness on daily closing below this zone.
- Nifty has closed above recent High's
- Up move started from 20 Day SMA continues to gain momentum
- Bulls are safeTill the Higher High and Higher Low structure for this up move remains intact
- Goldman Sachs daily chart shows price at Golden ratio.
- Price also nearing horizontal and Falling resistance line.
- Bulls have managed to close above 200 Day SMA. If the above mentioned resistance levels are crossed bigger up move is possible. Weakness at the falling resistance line may give a correction.
- Bank of america testing 50 Day SMA.
- Daily chart is getting ready for a bearish death cross.
- Price nearing next fib resistance level of 38.2%.
- If price closes the GAP in daily chart without weakness then a bigger up move can happen. If price shows weakness after fading the GAP then selling may resume.
- Facebook daily chart shows price unable to close above the cloud.
- Hourly chart seen near crucial support levels. Closing below them may result in bigger correction.
- Bank nifty continues to trade in a range.
- Fib levels shows price staying above 23.6%, Weakness only if price falls below this level. Bearish below 38.2% Fib level. Bulls need to stay above 23.6% Fib level to avoid a correction.
- Rising 20 Day SMA too may act as support for BN Bulls.
- Range breakdown was followed by a reversal which has taken price back above the range.
- Pair took support near the support zone in daily chart.
- For now pair is testing a support zone which was broken earlier and may act as resistance. Bigger up move only if price move back into the daily range shown in chart 3.
